Apartments 30 minutes away from Bucharest's centre are 20-25% cheaper

The average price of apartments on the outskirts of Bucharest - Drumul Taberei, Berceni, Vitan Mall and Crangasi - has fallen by over 20% this year.

More than 20% declines of the year have been recorded in the 13 Septembrie and 1 Mai areas, as well, since the beginning of the year, according to the ZF real estate index, calculated based on sales ads published on the anuntul.ro ad website. Three-room apartments built between 1980 and 1990, with a 70-80 square-metre area were considered. The biggest price reductions were recorded in outskirts areas, such as Drumul Taberei - 25.2%, Berceni - 24.3% and Vitan Mall - 23.6%, according to the ZF index. In the Alba Iulia and Victoriei areas, apartment owners have no reasons to be concerned about price declines. Prices have stagnated, with the market being blocked both on the demand and on the supply side. Less significant declines have been recorded in the Dorobanti, Dristor, Decebal and Stefan cel Mare areas - where prices have gone down by under 12%. The Stefan cel Mare and Dristor areas have made up for part of the declines recorded since the beginning of the year, with prices slightly increasing in April - by 6.9% and 3.8% respectively.